Sharemilk­ers feel­ing the heat from banks

South Waikato News - - Backyard Banter - GER­ALD PIDDOCK

Fi­nan­cially stretched sharemilk­ers are still feel­ing the pres­sure from banks as the dairy in­dus­try works its way out of a down­turn.

Bank sat­is­fac­tion re­mains high among farm­ers ex­cept sharemilk­ers who re­main un­der pres­sure in a sur­vey by Fed­er­ated Farm­ers.

In the sur­vey of just un­der 1000 farm­ers 19 per cent of all sharemilk­ers - who own herds and equip­ment, but not land - felt they were com­ing un­der un­due pres­sure from their bank over their mort­gage. An­other 13 per cent ex­pressed dis­sat­is­fac­tion with their banks and 11 per cent re­ported poor com­mu­ni­ca­tion.

Sharemilker dis­sat­is­fac­tion was higher than other farm­ers with 81 per cent re­veal­ing they were very sat­is­fied or sat­is­fied with their bank.

Seven per cent were feel­ing

‘‘Drought, tough mar­ket con­di­tions, and Brexit have added more un­cer­tainty to the sheep in­dus­try.’’

dis­sat­is­fied or very dis­sat­is­fied..

The 77 per cent of farm­ers who rated their bank’s com­mu­ni­ca­tion as ex­cel­lent or good was down slightly from Au­gust and 7 per cent be­lieved it had been poor.

Fed­er­ated Farm­ers pres­i­dent Dr Wil­liam Rolle­ston said ‘‘Drought, tough mar­ket con­di­tions, and Brexit have added more un­cer­tainty to the sheep in­dus­try’’ and farm gate lamb prices had been af­fected by a per­sis­tent strong New Zealand dol­lar.

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